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Plant-based Meat Market - Global Outlook and Forecast 2020-2025

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  • 268 Pages
  • September 2020
  • Region: Global
  • Arizton
  • ID: 5141758
UP TO OFF until Aug 31st 2022
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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Plant-based Meat Market Report

The global plant-based meat market by revenue is expected to grow at a CAGR of over 18% during the period 2019-2025.

The global plant-based meat market size by revenue is likely to cross $12 billion by 2025, growing at a CAGR of more than 18% during the forecast period. The industry landscape is currently witnessing increasingly frequent product launches, representing a growing investment in R&D that continues to stimulate the development of highly sophisticated products. Taste, texture, and mouthfeel of products will continue to improve with further ingredient and processing advancements. Globally, consumers are becoming aware and are increasingly looking for healthy, ethical, and cost-effective products with a low environmental impact, which is driving the demand for plant-based alternatives.

With the growing global population and a major shift in food production and consumption, there has been a demand for rich protein-based food. As people around the world are becoming affluent with veganism, flexitarians, and the impact of meat on the environment, the industry is expected to grow significantly. However, despite the rapid success of this type of food, the sector requires overcoming several challenges to become reliable sources of food and proteins.

The following factors are likely to contribute to the growth of the plant-based meat market during the forecast period:
  • Demand for Cleaner Labelling
  • Increase in Investments in Plant-based Market
  • Growth in Technology & Innovation
  • Growth of Direct to Consumer Models

The study considers the present scenario of the plant-based market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Global Plant-Based Meat Market Segmentation

The global plant-based meat market research report includes a detailed segmentation by source, meat type, storage, distribution, and geography. Soy accounts for the largest share of plant-based meat protein sources globally, contributing approx - 67% of the global plant-based meat market share. The growing health concerns associated with the consumption of animal protein-sourced foods and the adoption of flexitarian and vegetarian diets are expected to drive the consumption of soy in the global vegan market in the future. However, the demand is projected to decline during the forecast period due to the high prevalence of soy allergies.

Manufacturers are coming up with plant-based beef substitutes, which offer natural, organic, and vegan alternatives. The alternative beef market witnessed enormous growth, with over 25% YOY increase in the US in 2018 compared to 5% in the beef segment. Increased efforts to enhance consumer awareness of the environmental impact of beef consumption is driving consumers to opt for sustainable substitutes. Beef substitutes are expected to continue to drive market growth in the future. Plant-based beef is still a niche segment in the global plant-based meat market and has enormous growth opportunities in the recent future, with growing penetration and demand for plant-based substitutes.

The frozen plant-based meat market accounted for approximately 65% of the shares in 2019. Traditionally, veg and meat burgers have been available in frozen aisles; however, plant-based meat has followed suit. With the growing awareness among consumers, plant-based items from the frozen aisle are expected to grow in demand during the forecast period. Since frozen aisles in retail stores are overflowing with premium offerings, including plant-based products, they are expected to appeal to consumers.

In terms of distribution, the global plant-based meat market was dominated by supermarkets and hypermarkets, which accounted for a share of over 59% in 2019. Consumers will always prefer retail sales through these stores because of the presence of all types of grocery products under one roof. In North America, Walmart, Whole Foods Market, Costco, and Kroger are the major retailers of plant-based protein products. Retail supermarkets are increasingly incorporating vegan food and beverages, owing to the growing consumer demand.

Segmentation by Source
  • Soy
  • Pea
  • Wheat
  • Others

Segmentation by Meat Type
  • Beef
  • Chicken
  • Pork
  • Fish
  • Others

Segmentation by Storage
  • Frozen
  • Refrigerated
  • Shelf-stable

Segmentation by Distribution
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Stores
  • Others


Europe accounted for the largest plant-based meat market globally, accounting for over approx. 39% of the market revenue in 2019. One of the major factors that are driving the demand for plant-based meat, especially in the UK, is the rise of ethical and health-conscious consumer segments. This growth is partly led by the millennial generation and the emergence of the ‘flexitarian’ consumer. Further, significant media coverage of the impact of meat and dairy product production on global warming and resource consumption on greenhouse gases. The growth of animal welfare rights groups has gained significant traction and has caused a significant switch in consumer preferences. There are numerous reports on the potential link between high consumption of processed or red meat and cancer, which has led to the growth in the adoption of plant-based diets.

Segmentation by Geography
  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • APAC
  • China
  • Japan
  • Australia
  • Latin America
  • Brazil
  • Mexico
  • Middle East & Africa
  • Saudi Arabia
  • UAE


The focus of vendors in the global plant-based meat market has primarily been to draw the attention of consumers and generate appeal for vegan meat. Impossible Foods, Beyond Meat, and several other not-so-established start-ups are trying to find the right combination of coconut oil, peas, potato, or other proteins and other plant-based ingredients to create a product that is comparable to conventional meat products such as ground beef. Plant-based and cultured meat companies are actively pursuing to satisfy carnivorous-leaning taste buds. Vendors are trying to layer flavor over flavor, color over color, texture over texture.

Prominent Vendors
  • Beyond Meat
  • Morningstar Farms
  • Gardein
  • Field Roast
  • Turtle Island Food
  • Impossible Foods
  • Pure Farmland
  • Sweet Earth
  • Happy Little Plants
  • Good Catch
  • Tyson Foods
  • Hungry Planet
  • Next Level Burger
  • Abbot’s Butcher
  • Atlantic Natural Foods
  • Don Lee Farms
  • Dr. Prager’s Sensible Foods
  • No Evil Foods
  • Ocean Hugger Foods
  • Sophie’s Kitchen
  • VBites Food Limited


1. What is the global plant-based meat market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the global plant-based meat market share?
3. What are the drivers, trends, and restraints in the market?
4. Who are the leading plant-based meat companies, and what is the growth of Beyond Meat market share?
5. What is the impact of the COVID-19 pandemic on the plant-based meat market share?

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market by Source Type
4.3.2 Market by Meat Type
4.3.3 Market by Storage Type
4.3.4 Market by Distribution
4.3.5 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 COVID-19 Impact
8.1 Impact of COVID-19 on Plant-Based Meat Market
9 Market Opportunities & Trends
9.1 Growing Demand For Cleaner Labeling
9.2 Growing Investment In Plant-Based Food Market
9.3 Growth In Technology And Innovation
9.4 Growth Of Direct To Consumer Models
10 Market Growth Enablers
10.1 Growth Of Vegan Population
10.2 Growing Concerns Regarding Environmental Sustainability
10.3 Changing Consumption Pattern
10.4 Availability Of Soy-And-Gluten-Free Meat
11 Market Restraints
11.1 Fluctuating Price Of Raw Materials
11.2 Government Regulations And Safety Standards
11.3 Barriers To Reduction Of Meat Consumption
12 Market Landscape
12.1 Market Overview
12.2 Five Forces Analysis
12.2.1 Threat of New Entrants
12.2.2 Bargaining Power of Suppliers
12.2.3 Bargaining Power of Buyers
12.2.4 Threat of Substitutes
12.2.5 Competitive Rivalry
13 Source Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Soy
13.3.1 Market Size & Forecast
13.3.2 Market By Geography
13.4 Pea
13.4.1 Market Size & Forecast
13.4.2 Market by Geography
13.5 Wheat
13.5.1 Market Size & Forecast
13.5.2 Market by Geography
13.6 Others
13.6.1 Market Size & Forecast
13.6.2 Market by Geography
14 Meat Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Beef
14.3.1 Market Size & Forecast
14.3.2 Market by Geography
14.4 Chicken
14.4.1 Market Size & Forecast
14.4.2 Market by Geography
14.5 Pork
14.5.1 Market Size & Forecast
14.5.2 Market by Geography
14.6 Fish
14.6.1 Market Size & Forecast
14.6.2 Market by Geography
14.7 Others
14.7.1 Market Size & Forecast
14.7.2 Market by Geography
15 Storage Type
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Frozen
15.3.1 Market Size & Forecast
15.3.2 Market By Geography
15.4 Refrigerated
15.4.1 Market Size & Forecast
15.4.2 Market by Geography
15.5 Shelf Stable
15.5.1 Market Size & Forecast
15.5.2 Market by Geography
16 Distribution
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Supermarkets & Hypermarkets
16.3.1 Market Size & Forecast
16.3.2 Market by Geography
16.4 Convenience Stores
16.4.1 Market Size & Forecast
16.4.2 Market by Geography
16.5 Specialty Stores
16.5.1 Market Size & Forecast
16.5.2 Market by Geography
16.6 Online Channels
16.6.1 Market Size & Forecast
16.6.2 Market by Geography
16.7 Others
16.7.1 Market Size & Forecast
16.7.2 Market by Geography
17 Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview
18 North America
18.1 Market Overview
18.1.1 Market Size & Forecast
18.2 Source Type
18.2.1 Market Size & Forecast
18.3 Meat Type
18.3.1 Market Size & Forecast
18.4 Storage Type
18.4.1 Market Size & Forecast
18.5 Distribution
18.5.1 Market Size & Forecast
18.6 Key Countries
18.6.1 US: Market Size & Forecast
18.6.2 Canada: Market Size & Forecast
19 Europe
19.1 Market Overview
19.1.1 Market Size & Forecast
19.2 Source Type
19.2.1 Market Size & Forecast
19.3 Meat Type
19.3.1 Market Size & Forecast
19.4 Storage Type
19.4.1 Market Size & Forecast
19.5 Distribution
19.5.1 Market Size & Forecast
19.6 Key Countries
19.6.1 UK: Market Size & Forecast
19.6.2 Germany: Market Size & Forecast
19.6.3 France: Market Size & Forecast
19.6.4 Spain: Market Size & Forecast
19.6.5 Italy: Market Size & Forecast
20.1 Market Overview
20.1.1 Market Size & Forecast
20.2 Source Type
20.2.1 Market Size & Forecast
20.3 Meat Type
20.3.1 Market Size & Forecast
20.4 Storage Type
20.4.1 Market Size & Forecast
20.5 Distribution
20.5.1 Market Size & Forecast
20.6 Key Countries
20.6.1 China: Market Size & Forecast
20.6.2 Japan: Market Size & Forecast
20.6.3 Australia: Market Size & Forecast
21 Latin America
21.1 Market Overview
21.1.1 Market Size & Forecast
21.2 Source Type
21.2.1 Market Size & Forecast
21.3 Meat Type
21.3.1 Market Size & Forecast
21.4 Storage Type
21.4.1 Market Size & Forecast
21.5 Distribution
21.5.1 Market Size & Forecast
21.6 Key Countries
21.6.1 Brazil: Market Size & Forecast
21.6.2 Mexico: Market Size & Forecast
22 Middle East & Africa
22.1 Market Overview
22.1.1 Market Size & Forecast
22.2 Source Type
22.2.1 Market Size & Forecast
22.3 Meat Type
22.3.1 Market Size & Forecast
22.4 Storage Type
22.4.1 Market Size & Forecast
22.5 Distribution
22.5.1 Market Size & Forecast
22.6 Key Countries
22.6.1 UAE: Market Size & Forecast
22.6.2 Saudi Arabia: Market Size & Forecast
23 Competitive Landscape
23.1 Competition Overview
24 Key Company Profiles
24.1 Beyond Meat
24.1.1 Business Overview
24.1.2 Product Offerings
24.2 Morningstar Farms
24.2.1 Business Overview
24.2.2 Product Offerings
24.3 Gardein
24.3.1 Business Overview
24.3.2 Product Offerings
24.4 Field Roast
24.4.1 Business Overview
24.4.2 Product Offerings
24.5 Turtle Island Food
24.5.1 Business Overview
24.5.2 Product Offerings
24.6 Impossible Foods
24.6.1 Business Overview
24.6.2 Product Offerings
24.7 Pure Farmland
24.7.1 Business Overview
24.7.2 Product Offerings
24.8 Sweet Earth
24.8.1 Business Overview
24.8.2 Product Offerings
24.9 Happy Little Plants
24.9.1 Business Overview
24.9.2 Product Offerings
24.10 Good Catch
24.10.1 Business Overview
24.10.2 Product Offerings
24.11 Tyson Foods
24.11.1 Business Overview
24.11.2 Product Offerings
24.12 Hungry Planet
24.12.1 Business Overview
24.12.2 Product Offerings
24.13 Next Level Burger
24.13.1 Business Overview
24.13.2 Product Offerings
24.14 Abbot’s Butcher
24.14.1 Business Overview
24.14.2 Product Offerings
24.15 Atlantic Natural Food
24.15.1 Business Overview
24.15.2 Product Offerings
24.16 Don Lee Farms
24.16.1 Business Overview
24.16.2 Product Offerings
24.17 Dr. Praeger’s Sensible Foods
24.17.1 Business Overview
24.17.2 Product Offerings
24.18 No Evil Foods
24.18.1 Business Overview
24.18.2 Product Offerings
24.19 Ocean Hugger Foods
24.19.1 Business Overview
24.19.2 Product Offerings
24.20 Sophie’s Kitchen
24.20.1 Business Overview
24.20.2 Product Offerings
24.21 Vbites Food Limited
24.21.1 Business Overview
24.21.2 Product Offerings
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Source Type
26.2 Meat Type
26.3 Storage Type
26.4 Distribution
26.5 North America
26.5.1 Source Type
26.5.2 Meat Type
26.5.3 Storage Type
26.5.4 Distribution
26.6 Europe
26.6.1 Source Type
26.6.2 Meat Type
26.6.3 Storage Type
26.6.4 Distribution
26.7 APAC
26.7.1 Source Type
26.7.2 Meat Type
26.7.3 Storage Type
26.7.4 Distribution
26.8 Latin America
26.8.1 Source Type
26.8.2 Meat Type
26.8.3 Storage Type
26.8.4 Distribution
26.9 Middle East & Africa
26.9.1 Source Type
26.9.2 Meat Type
26.9.3 Storage Type
26.9.4 Distribution
27 Appendix
27.1 Abbreviations

Companies Mentioned

  • Beyond Meat
  • Morningstar Farms
  • Gardein
  • Field Roast
  • Turtle Island Food
  • Impossible Foods
  • Pure Farmland
  • Sweet Earth
  • Happy Little Plants
  • Good Catch
  • Tyson Foods
  • Hungry Planet
  • Next Level Burger
  • Abbot’s Butcher
  • Atlantic Natural Foods
  • Don Lee Farms
  • Dr. Prager’s Sensible Foods
  • No Evil Foods
  • Ocean Hugger Foods
  • Sophie’s Kitchen
  • VBites Food Limited


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.